Descriptive analytics tells what happened in your business in the past week, month or year, presenting it as numbers and visuals in reports and dashboards. Predictive analytics determine the potential outcomes of present and past actions and trends. Data is managed based on a centralized data architecture, while big data is managed using a distributed architecture. Companies use big data in their systems to improve operations, provide better customer service, create personalized marketing campaigns and take other actions that, ultimately, can increase revenue and profits. Business intelligence gives organizations the ability to ask questions in plain language and get answers they can understand.
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Hi Lisbeth,
Descriptive and predictive data have changed the game for big corporations. To be able to analyze data, to predict patterns is extremely useful for the future. It can tell you where to invest more time and money and where to divest. Using descriptive data, managers can see exactly what’s happening and make day-to day decisions based on this information.
Lisbeth,
Good post. I like how you describe data analytics. Data is very important to companies because it can help them make decisions faster and more informed.